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5 Things Every Canadian Should Know About Their Money Today

From a rate hold to a sovereign wealth fund — here's what's moving the needle on your finances right now. 01 — DEADLINE Today is the tax filing deadline — and your refund may be a lifeline April 30 is the last day most Canadians can file their 2025 income tax return without penalty. With the cost of living still squeezing household budgets, many Canadians are counting on their refund as a financial cushion. Filing late triggers a 5% penalty on any balance owing, plus 1% for each additional month. If you haven't filed yet, the CRA's NETFILE portal is still open — act before midnight. 02 — INTEREST RATES Bank of Canada holds steady at 2.25% — no relief yet for borrowers The Bank of Canada kept its policy rate at 2.25% yesterday — the third consecutive hold of 2026. Governor Tiff Macklem cited rising inflation driven by higher global energy prices tied to the Middle East conflict, while U.S. tariffs continue to weigh on exports. CPI inflation climbed to 2.4% in Ma...
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Air Canada Strike Grounds Flights Nationwide, Disrupts 130,000 Passengers Daily

                                            A passenger at Mississauga airport, Ontario


Air Canada Cabin Crew Strike Grounds Hundreds of Flights

Air Canada has suspended all flights following a strike by over 10,000 cabin crew members, marking the airline’s first flight attendant walkout since 1985. The strike, which began early Saturday morning, August 16, has disrupted travel plans for approximately 130,000 passengers each day.

The Canadian Union of Public Employees (CUPE), representing the flight attendants, initiated the industrial action after contract negotiations stalled. Key demands include higher wages and compensation for duties performed while aircraft are on the ground—such as boarding and assisting passengers—tasks currently unpaid under existing contracts.

Air Canada had offered a 38% increase in total compensation over four years, including a 25% raise in the first year. CUPE rejected the proposal, calling it insufficient and below industry standards. The airline responded by suspending operations for both Air Canada and its budget arm, Air Canada Rouge, while regional carriers like Air Canada Jazz and PAL Airlines remain unaffected.

Picket lines have formed at major Canadian airports, and passengers are being advised not to travel to the airport unless booked with another airline. By Friday night, over 600 flights had already been cancelled in anticipation of the strike.

The federal government has urged both parties to return to the bargaining table, while Air Canada has requested binding arbitration to resolve the dispute. CUPE, however, opposes government-imposed mediation, citing concerns over losing the right to strike.

With summer travel at its peak, the strike’s impact is expected to ripple across international routes and domestic travel, leaving thousands stranded and scrambling for alternatives.


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